• Journal of Korea Trade
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• v.25 no.3
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• pp.65-86
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• 2021

Purpose - This paper empirically investigates the relationship between the corporate value chain and performance of non- financial businesses of South Korean stock market companies. It aims to explore the evidence that can be used to infer the relationship between value chains and corporate performance in the case of firms forming a value chain with other companies with the means of an equity investment or a special business relationship. Design/methodology - Non-financial corporations listed from 2011 to 2017 on the securities market of South Korea are analyzed. The data used for analysis are found for transactions with the related party by year for all the corporations of non-financial industries in the securities market. Multiple analysis attempts are conducted including the relationship between the value chain and productivity, corporate value, risk-adjusted corporate value, and mediation effects of productivity. The empirical model employs sixteen variables including the value chain index which identifies its impact on various aspects of business performances. Findings - The results of this study clearly supports the phenomenon that corporate productivity and value are enhanced when the corporation expands its value chain established with domestic related firms and overseas companies. Such a positive effect is statistically significant even after the possible risk factors that accompany the expansion of value chain were considered, and productivity plays the role as a medicating variable in the effect of the value chain on the corporation values. Originality/value - The findings of this study confirms that domestic companies' expansion of their value chain centered on the related firms overseas that helped them in terms of the maximization of their productivity and corporate values. This study shows that Korean government's policy on expanding the corporate GVC can enhance the productivity and value of firms. The expansion of value chain and its impact on business performance has not been explored thoroughly, although it is getting more and more important in the global trade operation.

• International Area Studies Review
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• v.17 no.4
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• pp.23-42
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• 2013

This paper examines the effects of corporate governance on internationalization in Korean firms. Using the data from 454 Korean manufacturing firms listed in the Korean Stock ExchanFge (KSE) from 1999-2006, we analyzed the role of corporate governance on internationalization in Korean firms, including Chaebols (Korean business groups) and family firms. In addition, we investigated the moderating effect of concentration of ownership on internationalization. The results of the analysis showed a positive association between corporate governance in Chaebols and family firms and internationalization. Interestingly, the influence of ownership concentration overpowered the ambivalent behaviors of Chaebols, leading to less internationalization. We conclude that corporate governance in Chaebols and family firms is important to internationalization strategy.

• Journal of Korean Academy of Nursing
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• v.49 no.4
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• pp.398-410
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• 2019

Purpose: This study used a system dynamics methodology to identify correlation and nonlinear feedback structures among factors affecting adolescent cyberbullying victims (CV) in Korea and to construct and verify a simulation model. Methods: Factors affecting CV were identified by reviewing a theoretical background in existing literature and referencing various statistical data. Related variables were identified through content validity verification by an expert group, after which a causal loop diagram (CLD) was constructed based on the variables. A stock-flow diagram (SFD) using Vensim Professional 7.3 was used to establish a CV model. Results: Based on the literature review and expert verification, 22 variables associated with CV were identified and the CLD was prepared. Next, a model was developed by converting the CLD to an SFD. The simulation results showed that the variables such as negative emotions, stress levels, high levels of conflict in schools, parental monitoring, and time spent using new media had the strongest effects on CV. The model's validity was verified using equation check, sensitivity analysis for timestep and simulation with 4 CV adolescent. Conclusion: The system dynamics model constructed in this study can be used to develop intervention strategies in schools that are focused on counseling that can prevent cyberbullying and assist in the victims' recovery by formulating a feedback structure and capturing the dynamic changes observed in CV. To prevent cyberbullying, it is necessary to develop more effective strategies such as prevention education, counseling and treatment that considers factors pertaining to the individual, family, school, and media.

• Journal of Forest and Environmental Science
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• v.35 no.3
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• pp.205-211
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• 2019

The objective of this research was to assess the amount of carbon stock of coarse woody debris (CWD) in Bombo-Lumene Reserve. Data on lying CWD was collected on 35 circular sampling plots using Line Intersect Sampling (LIS) method. A total of 230 samples CWD (${\geq}10cm$ diameter) were inventoried. The mean carbon stocks of CWD was $29.48Mg\;C\;ha^{-1}$, ranging from 4.32 to $73.54Mg\;C\;ha^{-1}$. The CWD carbon stocks displayed a wide range of variation in decay states. The allocation of CWD among the decay class of all the CWD samples reveals that the most important classes were class 1 and class 3 with 323.66 and $321.96Mg\;C\;ha^{-1}$, followed by class 4 with 264.56 and the last one was class 2 with $121.72Mg\;C\;ha^{-1}$. The results suggested that the dead wood component is important in carbon sequestration and should be taken into consideration for quantification of carbon stocks not only in Bombo-Lumene Reserve, but in all forest ecosystems in the Democratic Republic of Congo.

• International Area Studies Review
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• v.21 no.4
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• pp.19-39
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• 2017

The purpose of this paper is to investigate the impact of terms of trade and its volatility on real GDP and inflation. I estimate the linear and dynamic panel model including variables such as real GDP, inflation, terms of trade, capital stock, employment and education. The sample countries consist of OECD 26 countries and panel data ranges from 1990 to 2015. The empirical results show that terms of trade and its volatility do not affect the real GDP significantly. Even if the terms of trade has a negative relationship with real GDP, the magnitude of the estimated coefficients was very small. This result seems to be related with the industry structure and domestic demand structure of the member countries. On the other hand, terms of trade and its volatility have the significant impact on inflation. When the terms of trade and its volatility increase, the inflation increases.

• Korean Journal of Fisheries and Aquatic Sciences
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• v.54 no.1
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• pp.129-134
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• 2021

This study used the commercial fishing data of Korean high sea bottom longline vessels in the South West Atlantic Ocean from 2013 to 2019 to identify the distribution of fishing grounds of Korean longline vessels. We estimated the CPUE of the Patagonian toothfish Dissostichus eleginoides and the changes in its stock status. The fishing grounds of Korean longline vessels were observed to concentrate on the exclusive economic zone (EEZ) boundary between Argentina, Uruguay, and Falkland owing to the high seas of 41-55 °S in the south and 49-60 °W in the west. A high intensity of fishing was seen in the middle area, which was horizontal from the 3.1 subarea. In all the three subareas, CPUEs have had the tendency to decline since 2013. Although the CPUEs in the 3.2.1-2 subareas were the highest in each subarea, there was no significant difference in each subarea (P>0.05). It is believed that the establishment of a regional fisheries organization or the strengthening of the management of FAO is necessary for the management of Southwest Atlantic fisheries and sustainable fishing, because the portion and scope of Korean longline vessels are very low in the Southwest Atlantic; however, the CPUE is estimated to have declined.

• The Journal of the Korea Contents Association
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• v.20 no.12
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• pp.136-144
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• 2020

Previous studies report that labor investment inefficiency occurs as the information asymmetry becomes severe and the agency problem between managers and external investors increases. Therefore, it is highly likely that managers will make opportunistic decisions that can damage corporate value in companies with high labor investment inefficiency. This study examines whether the value relevance of accounting information decreases as labor investment inefficiency increases as it is less likely that investors in the market use the accounting information of companies in which labor investment decisions are made inefficiently. Labor investment efficiency is measured as the difference between the actual level of labor investment and the expected level of optimal labor investment. Larger difference between the actual level of labor investment and the expected level of optimal labor investment is considered as higher inefficiency in labor investment. Using data of firms listed on the Korea Stock Exchange from 2002 to 2018, empirical results show that the value relevance of earnings decreases as the inefficiency of labor investment increases. This research provides empirical evidence on whether investment inefficiency in labor, which is an important factor in the competitiveness of a company, reduces the information usefulness of reported earnings.

• Journal of Forest and Environmental Science
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• v.37 no.2
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• pp.116-127
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• 2021

Predicting carbon distribution of soil aggregates is difficult due to complexity in organo-mineral formation. This limits global warming mitigation through soil carbon sequestration. Therefore, knowledge of land use effect on carbon stabilization requires quantification of soil mineral cations. The study was conducted to quantify carbon and base cations on soil mineral fractions in Natural Forest, Plantation Forest and Farm Land. Five 0.09 ha were demarcated alternately along 500 m long transect with an interval of 50 m in Natural Forest (NF), Plantation Forest (PF) and Farm Land (FL). Soil samples were collected with soil cores at 0-15, 15-30 and 30-45 cm depths in each plot. Soil core samples were oven-dried at 105℃ and soil bulk densities were computed. Sample (100 g) of each soil core was separated into >2.0, 2.0-1.0, 1.0-0.5, 0.5-0.05 and <0.05 mm aggregates using dry sieve procedure and proportion determined. Carbon concentration of soil aggregates was determined using Loss-on-ignition method. Mineral fractions of soil depths were obtained using dispersion, sequential extraction and sedimentation methods of composite soil samples and sieved into <0.05 and >0.05 mm fractions. Cation exchange capacity of two mineral fractions was measured using spectrophotometry method. Data collected were analysed using descriptive and ANOVA at α_0.05. Silt and sand particle size decreased while clay increased with increase in soil depth in NF and PF. Subsoil depth contained highest carbon stock in the PF. Carbon concentration increased with decrease in aggregate size in soil depths of NF and FL. Micro- (1-0.5, 0.5-0.05 and <0.05 mm) and macro-aggregates (>2.0 and 2-1.0 mm) were saturated with soil carbon in NF and FL, respectively. Cation exchange capacity of <0.05 mm was higher than >0.05 mm in soil depths of PF and FL. Fine silt (<0.05 mm) determine the cation exchange capacity in soil depths. Land use and mineral size influence the carbon and cation exchange capacity of Gambari Forest Reserve.

• The Journal of Society for e-Business Studies
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• v.26 no.1
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• pp.67-78
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• 2021

The number of domestic e-commerce transactions has been breaking its own record by an annual average growth rate of over 20% based on volume for the past 5 years. Due to the rapid increase in e-commerce market, retail companies that have difficulty meeting consumers in person are in fierce competition to take the lead in the last mile service, which is the only point of contact with customers. Especially in the delivery area, where competition is most intense, the role of the fulfillment center is very important for service differentiation. It must be capable of fast product preparation ordered by consumers in accordance with the delivery service level. This study focuses on the order picking system for rapid order processing in the fulfillment center as an alternative for companies to gain competitive advantage in the e-commerce market. A mixed integer programming model was developed and implemented to optimize the stock replenishment in order picking facilities. The effectiveness was scientifically and objectively verified by simulation using the actual operation process and data.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.573-585
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• 2021

The banking sector is one of the most important sectors in Pakistan's struggling economy. Recent studies have recommended that suitable methods can be applied to predict bankruptcy. In this context, this work analyzes Pakistan's banking sector's financial status through the five-factor Altman Z-score model, which determines the probability of bankruptcy for an organization. Banking data has been collected through the Pakistan Stock Exchange (PSX) in the period 2013-2017. The Z-score assessment criteria is defined as: Z> 2.99 - "safe" zone; Z> 1.8 Z>2.98- "grey" zone; and Z <1.8 - "distress" zone. Results show good predictions for the local banking industry, while most foreign Pakistani banks were found bankrupt with the Z-score below 1.1. One of the financial risks investors face when investing in any company is the risk of bankruptcy. One of the most used models for predicting financial distress for any company is Altman's Z-score model. On the other hand, the Z-score analysis suggests that all banking establishments are not bankrupt because they have sufficient ability to control bankruptcy. At the same time, foreign banks failed financially and would not be able to be sustained in the future because they do not have the ability to pay the short-term and long-term debt.